Payden & Rygel Trims Stock Position in Mastercard Incorporated (NYSE:MA)

Payden & Rygel cut its holdings in shares of Mastercard Incorporated (NYSE:MAGet Rating) by 16.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,660 shares of the credit services provider’s stock after selling 900 shares during the quarter. Payden & Rygel’s holdings in Mastercard were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Mastercard during the fourth quarter worth about $3,107,220,000. Lone Pine Capital LLC acquired a new stake in Mastercard during the fourth quarter worth about $1,732,927,000. Allspring Global Investments Holdings LLC acquired a new stake in Mastercard during the fourth quarter worth about $574,844,000. State Street Corp increased its stake in Mastercard by 4.4% during the fourth quarter. State Street Corp now owns 35,528,530 shares of the credit services provider’s stock worth $12,766,111,000 after acquiring an additional 1,511,927 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in Mastercard by 27.2% during the fourth quarter. Brown Advisory Inc. now owns 5,587,241 shares of the credit services provider’s stock worth $2,007,608,000 after acquiring an additional 1,195,525 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.

NYSE:MA traded up $2.19 during trading hours on Thursday, reaching $318.34. 10,142 shares of the stock were exchanged, compared to its average volume of 2,734,079. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.95. The firm has a 50 day simple moving average of $344.96 and a 200-day simple moving average of $353.06. Mastercard Incorporated has a 52 week low of $303.65 and a 52 week high of $399.92. The stock has a market capitalization of $309.63 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.49 and a beta of 1.01.

Mastercard (NYSE:MAGet Rating) last released its earnings results on Thursday, April 28th. The credit services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.59. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.90 billion. Mastercard had a return on equity of 133.72% and a net margin of 47.70%. Mastercard’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. As a group, analysts expect that Mastercard Incorporated will post 10.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Friday, July 8th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, July 7th. Mastercard’s dividend payout ratio (DPR) is 20.40%.

MA has been the subject of several research analyst reports. Citigroup dropped their price target on Mastercard from $445.00 to $435.00 in a research note on Monday, April 25th. Barclays lowered their target price on Mastercard from $430.00 to $420.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Bank of America lowered their target price on Mastercard from $416.00 to $402.00 and set a “buy” rating for the company in a research note on Monday, April 18th. JPMorgan Chase & Co. increased their target price on Mastercard from $400.00 to $430.00 in a research note on Friday, April 29th. Finally, BMO Capital Markets lowered their target price on Mastercard from $412.00 to $402.00 in a research note on Friday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $422.94.

In related news, major shareholder Foundation Mastercard sold 106,326 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $329.93, for a total value of $35,080,137.18. Following the sale, the insider now directly owns 104,054,624 shares in the company, valued at approximately $34,330,742,096.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Vosburg sold 1,561 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $365.00, for a total value of $569,765.00. The disclosure for this sale can be found here. In the last three months, insiders sold 327,543 shares of company stock worth $108,482,025. Company insiders own 0.33% of the company’s stock.

Mastercard Company Profile (Get Rating)

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services.

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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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